The piece of land known as The Butts off Cullum Road next to Holywater Meadows in Bury St Edmunds is up for sale.
The 14.29 acres, sited opposite the Greene King road, is being marketed as amenity land by Lacy Scott & Knight for a guide price of £240,000.
The plot is currently used for grazing sheep and is said to be described as ‘an area of environmental importance’ in the St Edmundsbury Local Plan.
The sale details point out that there will be a clause in the sale which will require a 50 per cent in uplift of value to the vendor should the land be granted planning permission for any significant non-agricultural development over the next 50 years.
The land is described as being left unmanaged for the past 25-30 years and contains dilapidated buildings and railway carriages.
It has also been flooded in the past following heavy rainfall.
Martyn Taylor, chairman of The Bury Society, said: “We would be looking for it to be maintained as a green lung for the town. We want to keep it green as it is a haven for wildlife such as white egrets, kingfishers, herons, crows, magpies, nightjars, owls and foxes.”
Jillian Macready, habitat restoration co-ordinator for the Bury Watermeadows Group, said : “While we have not had the opportunity to explore the matter we would hope it would be sold to somebody who doesn’t want to build houses on it in order to maintain this green aspect for the town.”
*The Butts were raised ground on which targets were placed for archery practice which was compulsory in medeival times, according to historian Mr Taylor.